In this writ petition, the High Court allowed the petitioner a reduced pre-deposit of Rs.20 lakhs against the DRAT's order of Rs.30 lakhs under the SARFAESI Act, enabling the DRAT to entertain the appeal on merits within four weeks.
Directed the petitioner to deposit Rs.20 lakhs within four weeks to enable the DRAT to entertain the appeal on merits.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 20.09.2019
CORAM:
THE HONOURABLE DR.JUSTICE VINEET KOTHARI AND
THE HONOURABLE MR.JUSTICE C.SARAVANAN
W.P.No.26788 of 2019
Tmt.Meenakshi
.. Petitioner Vs
The Authorised Officer Central Bank of India Regional Office at No.14/15 Variety Hall Road Coimbatore - 641 001. .. Respondent
Writ Petition filed under Article226 of the Constitution of India praying to issue a writ of Certiorarified Mandamus, calling for the records of the learned Debt Recovery Appellate Tribunal, Chennai dated 27.08.2019 made in I.A.No.689 of 2019 in A.I.R.No.253 of 2019 so as to quash the same and consequently directing the petitioner to deposit a sum of Rs.12.75 laksh towards pre-deposit in the waiver application in I.A.No.689 of 2019 in A.I.R.No.253 of 2019 on the file of the learned Debt Recovery Appellate Tribunal and pass such further or other orders.
For Petitioner : Mr.G.Jeremiah for Mr.B.Nambiselvan
For Respondent : Mr.M.L.Ganesh
ORDER [Order of the Court was made by Dr.VINEET KOTHARI, J]
The petitioner/guarantor approached this Court by way of this writ petition aggrieved by the order dated 27.08.2019 in I.A.No.689 of 2019 in A.I.R.No.253 of 2019 [Tmt. Meenakshi Vs. The Authorised Officer, Central Bank of India, Coimbatore], whereby the learned Debt Recovery Appellate Tribunal, Chennai [hereinafter referred to as 'DRAT'] directed the petitioner to deposit a sum of Rs.30,00,000/- (Rupees Thirty Lakhs only) with
the Registrar of DRAT within four weeks to entertain the appeal in terms of second proviso to Section 18(1) of the SARFAESI Act (hereinafter referred to as 'the Act').
Sd/Assistant Registrar(CS VI) //True Copy//
Sub Assistant Registrar
vsm
To
+1cc to Mr.B.Nambiselvan, Advocate in sr.no.81226 +1cc to Mr.S.Arunkumar, Advocate in sr.no.81210
W.P.No.26788 of 2019
VD(CO)
CS/25/09/2019
3 issues framed by the court
Whether the writ petitioner can challenge the demand for pre-deposit under Section 18(1) of the SARFAESI Act by approaching this Court.
Whether the Debt Recovery Appellate Tribunal may entertain the appeal on merits if the pre-deposit amount is reduced by this Court.
What amount of pre-deposit should the petitioner deposit to satisfy the statutory requirement.
3 provisions across 2 enactments
Tmt. Meenakshi
The Authorised Officer Central Bank of India Regional Office at No.14/15 Variety Hall Road Coimbatore - 641 001
Vineet Kothari
C. Saravanan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
